Archive for 2017

If Kabbage Wanted to Buy, Would OnDeck Sell?

March 24, 2017
Article by:

OnDeck Capital

A single line in a Reuters story was enough to cause OnDeck’s stock to jump by as much as 11% on Thursday. Industry blogs and news outlets had reacted pretty quickly to word of an unnamed source claiming that OnDeck is a potential acquisition target if Kabbage raises a new equity round. OnDeck closed for […]

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Citing Unnamed Sources, Reuters Reports Kabbage Possibly Looking to Acquire OnDeck

March 23, 2017
Article by:

whispers

Reuters is reporting that Kabbage is in talks to raise equity capital to potentially use for acquisitions and that OnDeck is one of several targets under consideration. As Reuters attributed the OnDeck portion to just one of their multiple unnamed sources, it’s entirely speculative at this point. From a theoretical perspective, would such a thing […]

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OnDeck CEO Noah Breslow Talked Tech Worker Shortage in Canada on BloombergTV

March 22, 2017
Article by:

Canada

On BloobergTV Canada, OnDeck CEO Noah Breslow explained what he thought the country could do to boost innovation. The discussion stemmed from Canada’s decision to set aside C$800 million over the next four years to carry out that objective. Breslow said that since Canada has excellent schools, those graduates can be nurtured into forming businesses […]

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In This Online Lender’s Earnings Report, Profits, MCAs and Term Loans

March 22, 2017
Article by:

New York Stock Exchange

Enova (NYSE:ENVA) shows that an online lending business can be profitable Limited details were offered when Enova, a publicly traded company, acquired The Business Backer (TBB) in June 2015. For one, the Cincinnati Business Courier had the exclusive, which one might not describe as the typical go-to source for online finance news. But TBB was […]

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Prosper Lost A Whopping $119 Million in 2016

March 20, 2017
Article by:

Prosper Marketplace

Prosper might be the online lender for the who’s who of Wall Street these days, but the company still lost $119 million in 2016. To add perspective, Prosper only had $136 million in revenue for the year, meaning that for every dollar it earned it spent almost two. The loss was also more than 4x […]

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WebBank Releases Earnings, Market Valuation

March 20, 2017
Article by:

Utah flag on money

WebBank, a Salt Lake City-based bank commonly used by online lenders such as Avant, CAN Capital and Prosper to make loans nationwide, reported year-end figures last week through an SEC filing. The company is 91.2% owned by Steel Partners Holdings L.P (NYSE:SPLP). The bank reported net income of $29.2 million for 2016. “Despite significant declines […]

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Are Those Shopping for an Online Loan More Risky?

March 18, 2017
Article by:

potential stacking

ID Analytics is enabling online lenders to know a thing or two they might not be able to find out on their own. For example, did a loan applicant apply for other loans on the same day? There’s a good chance ID Analytics can tell you the answer since they claim their Online Lending Network […]

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Managing Risk in Small Business Lending

March 16, 2017
Article by:

Risks

Two years ago, I left a promising career at PayPal, a major technology giant, for what some considered a risky move: I joined BlueVine, a young fintech startup. My title: vice president of risk. This year, I took on an even bigger role when I was named chief risk officer of the Silicon Valley company, […]

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Brickell Capital Finance Inks Deal with Liquid FSI Convert2Pay™

March 16, 2017
Article by:

press release

Miami, FL. March 16, 2017—Brickell Capital Finance, Inc., a leader in providing consumer facing loans to the healthcare industry, will offer Liquid FSI’s Convert2Pay™ through its 75 sales reps nationwide. Eli Mualin, President and CEO of Brickell said, “We believe that Convert2Pay is a ‘game changing’ Fintech product for the healthcare industry. It allows providers […]

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Dear Fintech, The OCC Wants to Welcome You to The Family

March 16, 2017
Article by:

banks

Congratulations fintech, you did it. The OCC wants fintech companies who are interested and meet the criteria, to apply for a Special Purpose National Bank (SPNB) charter if they so choose, according to a licensing manual published by the agency. “Providing a path for fintech companies to become national banks can make the financial system […]

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